Gati’s share price jumped up over 8% on Thursday to hit an intraday high of ₹126.75. As per the latest shareholding data, ace investor Mukul Agrawal holds a 5.38% stake in the company.
What Happened: The surge in the stock comes today as the logistics company posted its business updates for the month of March. Gati's total volume, including surface and air express, for the month of May 2023 stood at 98 million Kilo Tonne, up 8% as compared to April 2023 and up 1% as compared to May 2022.
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The company said that “May volumes continued to show an improving trend. Preparations for the upcoming festive season have started with uptick seen in the last week of May.” The company added that the momentum should continue over the coming months.
The update helped the stock continue its three-day gaining streak at the bourses. However, the stock has been having a tough time at the bourses. The stock is down close to 15% on a year-to-date basis. The surge today led to an increase of up to ₹6 crore in Mukul Agrawal’s net worth, who owns 5.38% or 70 lakh shares of the company.
Price Action: Gati’s share price was up 5.31% to trade at ₹123.05 in the late hours of trading on Thursday.
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